The Demands Of The Medical Profession. We Understand And We Want To Help
Never have the demands on the on the medical world been as pronounced as they are today. We have seen countless stories of dedication and sacrifice from many doctors and front line workers to ensure our safety. The plight of many professionals in private practice during the COVID-19 pandemic is not lost on us - and we want to help.
By drawing on the RBC Wealth Management Services’ team of highly accredited lawyers, accountants and financial planning professionals, we are able to deliver the level of integrated wealth management expertise that previously was available only to the most affluent families.
How We Work With Medical Professionals:
Financial planning
- Development of a comprehensive financial plan that includes projections to determine if you are on track to meet your goals such as retirement, estate and risk management
- Help you take a financial planning approach related to every financial decision that impacts your life
- Help you determine the best approach for debt repayment and annual savings
Taxation
- Provide specific corporate and personal tax planning strategies for medical professionals
- Recommend strategies to help reduce your family’s tax burden
- Discuss strategies to minimize tax through structures such as family trusts, holding companies and insurance
Business Succession Planning
- Discuss strategies to effectively transition from your practice in a tax-effective manner
- Identify the missing elements of your succession plan and provide strategies and solutions to fill in the gaps
- Assist in implementing an Individual Pension Plan for yourself or your key employees as part of your practice succession plan
- Assist in providing you with an overall financial plan and contingency plan as part of your practice succession plan
Charitable Giving
- Help you determine which charitable giving strategies are most suitable for you based on your objectives • Assist you and your family to implement a charitable foundation to minimize tax and leave a lasting legacy
Educational Savings
- Provide you with strategies and a variety of options to fund your children or grandchildren’s education in the most tax-effective manner • Through a financial plan, determine the required annual savings required to meet your education funding goals
Contact us to learn more about how we can work with you to grow your practice and your wealth.
